FIRST 9 MONTHS: REGISTERED FDI INTO VIETNAM UP BY 11.6%
As of September 30, the total registered capital from new licenses, adjustments, and capital contributions for share purchases by foreign investors reached over 24.78 billion USD, up 11.6% compared to the same period in 2023.
STANDARD CHARTERED PREDICTS SLOWER GDP GROWTH IN Q3
Standard Chartered's early October report predicts Vietnam's third-quarter GDP growth has slowed to 5.1 per cent on-year, down from 6.9 per cent in the second quarter, with a seasonally adjusted on-quarter growth of 1 per cent.
VIETNAM'S GDP CLIMBS TO 7.4 PER CENT IN THIRD QUARTER
According to the General Statistics Office (GSO), this was lower than the GDP growth rate posted in Q3/2022 (13.67 per cent), but higher than Q3/2021 (-6.17 per cent). The economy grew 6.8 per cent in the first nine months of 2024.
BANKS CONDUCTING MASSIVE BOND ISSUANCES
Besides attracting deposits to meet the heightened credit demand at the end of the year, banks are racing to issue bonds to replenish capital sources. On October 2 Military Bank (MB) announced plans to issue 30,000 bonds via private placement, with a total value approximating $125 million.
QUANG NGAI OFFERS PREFERENTIAL CONDITION TO DRAW INVESTORS
At a conference in Ho Chi Minh City on October 3, Nguyen Hoang Giang, Chairman of Quang Ngai People's Committee, said, "Industrial development has been identified by the province as a priority, so we are focusing on planning and developing economic zones and industrial parks. The most prominent is Dung Quat Economic Zone, one of five coastal economic zones that the government has prioritised for investment, with plans for a new national oil refinery and energy centre there."
VIETNAM REPORTS FDI JUMP OF 11.6 PER CENT
More than $24.78 billion in foreign direct investment (FDI) flowed into Vietnam in the first nine months of 2024, climbing 11.6 per cent on-year, according to the Foreign Investment Agency. A total of 2,492 new projects were granted investment registration certificates in that period, with registered capital of over $13.55 billion, down 4.3 per cent in number but up 11.3 per cent in terms of capital.
MORE INVESTMENTS PLANNED FOR VIETNAM'S HYPERSCALE DATA CENTRES
In a meeting with Party General Secretary, State President To Lam during his working trip to the United States last week, Wally Liaw, founder and senior vice-president of business development at Supermicro, said the company proposed cooperation with Vietnam in developing data centres and server system manufacturing.
PRIORITIZING INVESTMENT IN SEMICONDUCTOR PROJECTS
By prioritizing investment in high-tech sectors, mechanical engineering, electronics and supporting industries, especially semiconductors, Vinh Phuc province has attracted major semiconductor corporations from Korea, Taiwan, the United States, and other regions, aiming to establish itself as a key electronics hub in the country.
